The first quarter of the year is archived L'Espresso Group, which closed with a consolidated net profit of 6,1 million compared to 12 million recorded in the same period last year. The consolidated net result of operations destined to continue, on the other hand, was positive 6 million against 5,8 million in the first quarter of 2015. In fact, the previous year's result was affected by the capital gain of 6,3 million due to the sale of Deejay TV at Discovery Italy.
The consolidated operating result in the first quarter of 2016 was equal to 10,3 million, slightly up on the 10 million of the same period last year. Consolidated revenues decreased, -3,5% on an annual basis, to 140,8 million. Circulation revenues fell by 5,3% and advertising revenues by 2,5%. The group's net financial position at the end of March was positive by 15,5 million, a clear improvement compared to the debt of 10,7 million at the end of 2015.
With regard to the 2015 financial statements, no coupon is on the horizon for the group's shareholders: "This board of directors - said the group's chairman Charles DeBenedetti – believes that safeguarding the balance sheet takes precedence over the legitimate interests of the shareholders. Again this year we do not intend to distribute dividend".
